Many home owners think they know the value of their home. We get it, you may have raised 3 kids in this home, it holds many fond memories. You have probably done many of the home improvements yourself, and know its value to YOU. But what about its value to the average home buyer? When selling your house, it most definitely matters what your house is listed at. Listing it too high will eliminate tons of potential buyers for your home. Going in at top dollar is not advised, as the more fairly it is priced the more showings and offers you are likely to get on your home. A Realtor will have further knowledge on what similar homes in your area are going for, because yes, a home in one neighborhood does not necessarily go for the same amount in another neighborhood. There can actually be a significant difference for the same house in different areas of the same city. You may know that John Doe down the street sold his home for X amount, so you automatically think that is what you will get for yours. Not always the case! First off, different styles of homes (bungalow, two storey, bi-level) will demand price differentiations. The square footage, number of bedrooms, and whether or not there is a garage are examples of a main factor in price. And of course, there are updates in your home. The average home buyer is mostly concerned with energy efficient upgrades – so besides such things as a high efficiency furnace or new shingles, a home buyer may not care, or rather not be willing to pay more if you have a state of the art kitchen faucet or lighting imported from Europe. There can be upgrades in which you are not going to get your money back on. You don't want your home sitting on the market too long either, because there can also be a stigma on a home that has been on the market for too long - making people think “well obviously something is wrong with it”.
So knowing what to price your house at, and not making the mistake of pricing your property too high, is just one of the benefits of hiring an experienced Realtor.